Our Guernsey office has been trading for over 25 years, catering for islanders insurance needs. In that time we have built a great rapport with the local community and understand the sort of policies that appeal to Baliwick residents. The local office is part of the larger Clegg Gifford group which was founded in 1968 as a general insurance broker, which later evolved into a Lloyd’s broker. We provide a broad spectrum of both personal and commercial insurance products. Clegg Gifford is a well-known and well-regarded broker, with a national clientele and a heritage in the motor trade, which stretches back to its formation. Clegg Gifford has always written the majority of its business directly with the public. It also has a strong wholesale identity – providing non-Lloyd’s brokers with access to Lloyd’s facilities and the London market. Additionally we are able to bind business for direct clients and wholesale brokers alike, under various binding authority agreements with insurers.
Founding – Clegg Gifford (CG) was founded in 1968 as a general insurance broker, and later acquired status as a Lloyd’s broker. This provided access to unique markets and schemes by which CG could place specialist risks for its clients.
Where we are today – Today CG maintains a broad spectrum of both personal and commercial insurance products and is a well-known broker in the UK Insurance Industry, with a national clientele and a heritage in the motor trade.
50 years – CG is celebrating its 50th anniversary and looks forward to the next fifty years of working with our customers and building great new relationships, as well as welcoming back long-standing clients who we have been proud to serve over the last half century.
Westminster insurance is one of the best known and longest serving names in the taxi insurance market. Westminster is a trading name of Clegg Gifford & Co Ltd. and celebrates its 70th birthday this year. Westminster provides a long-standing appointed representative network with a national footprint throughout the UK. It’s heritage is closely linked to taxi insurance placed locally for individual licensing authorities. Since CG purchased Westminster in 2014, this has increased the breadth of facilities and products Westminster offices can offer its clients.
CG has branches across the UK and the branch office network includes offices in Aberdeen, Basildon, Birmingham, Bristol, Cardiff, Edinburgh, Guernsey, Minories (City of London), Portsmouth, Romford and Wakefield.
In December 2014 CG purchased the Westminster insurance brand and book of business from Tradex Insurance Co Ltd. which included its nationwide network of 40 tied appointed representatives.
Historically CG has enjoyed a strong wholesale identity – providing non-Lloyd’s brokers with access to Lloyd’s facilities, as well as being able to place business under its various binders. In December 2016, CG purchased the goodwill of the wholesale insurance arm (Tradex insurance services) from Tradex Insurance Co Ltd. This included nationwide relationships with 800 insurance brokers. The business was primarily motor trade, but included some fleet, family fleet, personality and commercial vehicle business.
CG is a family owned company with Roy Clegg as the majority shareholder. There are common shareholders between Clegg Gifford and Tradex Insurance Co Ltd.
Customers should note that for some motor products we may use Tradex Insurance Company Limited (Tradex). Tradex is authorised by the Prudential Regulation Authority (PRA) and regulated by the FCA and PRA. Financial Services Register no. 202917. Tradex and Clegg Gifford have a common shareholding, with Roy Clegg owning the majority of shares in both companies. Any conflicts of interest that arise from this are dealt with within Clegg Gifford’s Conflicts of Interest policy and other associated documentation. Furthermore to ensure separation at a governance level, there are no common directors between either company, to maintain independence of both. We welcome any enquiries regarding this longstanding association between both companies. From December 2019 Clegg Gifford took a direct stake in Tradex and is now a minority shareholder in the company owning 15% of Tradex Insurance (Holdings) Ltd, which owns Tradex Insurance Company Ltd.
Tradex operates a binding (delegated) authority with Clegg Gifford which allows CG to underwrite under Tradex’s control, administer policies, handle complaints and manage claims. CG are remunerated via commission from Tradex from risks bound on their behalf and also fees levied for the placement and administration of risks.
CG are remunerated via commission on the products it sells on behalf of insurers. We may also apply fees on administrative work carried out on your policy. In addition to this, based on performance (usually via posted loss ratios that are calculated via actuarial analysis after a period of time – usually 3 years) CG has some agreements where performance affects the total commission payable – which can either increase the commission payable from a carrier or decrease what CG earns based on posted loss ratio on the account. The renumeration level is usually in line with the actions carried out on behalf of the insurer. The greater the level of work required, e.g. accounts, marketing and claims handling and delegated actions via binding authority – usually the greater the commission received. This can range from 10% on some motor products to 35% on some specialist commercial lines for the London and Lloyds market.
From humble beginnings…
Company founded as a partnership between Roy Clegg and Mike Gifford from an office in Ilford Lane. Starts with 3 people.
First motor trade binding authority through Lloyd’s and national insurers. CG has 25 staff.
Roy Clegg sets up Tradex underwriting to focus on specialist motor trade and national taxi market. Later becomes an insurance company in its own right in 1992. CG has grown to 35 staff.
CG opens up its Guernsey office alongside its London city office to service the Lloyd’s market. CG now has over 60 staff.
CG moves into its larger purpose built HQ and grows to 80 staff.
CG buys Westminster Insurance, a 70 year old national taxi association insurer from Tradex. This includes a network of 40 authorised representatives across the UK. CG now has 150 staff.
CG buys the balance of the wholesale book (Tradex Insurance Services) back from Tradex. CG has grown to 200 staff.
CG now has 11 branches and 30 appointed reps with a UK national presence and has over 240 staff.
A nationwide broker formed in 1968. CG provide a broad spectrum of both personal and commercial insurance products.
CG’s wholesale arm which provides 1000 UK brokers with commercial motor products and access to the Lloyd’s market.
Providing Guernsey with flexible and competitive insurance for over 25 years.
Westminster insurance is one of the best known and longest serving names in the taxi insurance market.